JPMorgan Chase & Co. Has $47.65 Million Stake in Fox Co. (NASDAQ:FOXA)

JPMorgan Chase & Co. raised its stake in Fox Co. (NASDAQ:FOXA - Free Report) by 10.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,125,648 shares of the company's stock after acquiring an additional 110,753 shares during the period. JPMorgan Chase & Co. owned about 0.25% of FOX worth $47,649,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of FOXA. Quest Partners LLC acquired a new position in shares of FOX in the 3rd quarter worth approximately $51,000. Quarry LP acquired a new position in FOX in the third quarter worth $70,000. Transamerica Financial Advisors Inc. bought a new stake in shares of FOX during the third quarter worth $119,000. Exchange Traded Concepts LLC acquired a new stake in shares of FOX in the third quarter valued at $141,000. Finally, Mather Group LLC. lifted its position in FOX by 74.5% during the 3rd quarter. Mather Group LLC. now owns 4,178 shares of the company's stock worth $177,000 after buying an additional 1,784 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on FOXA shares. Bank of America raised their price objective on shares of FOX from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. StockNews.com lowered shares of FOX from a "buy" rating to a "hold" rating in a report on Tuesday, December 17th. Citigroup upped their price objective on FOX from $50.00 to $58.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Loop Capital increased their price objective on FOX from $48.00 to $55.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. boosted their target price on FOX from $41.00 to $42.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $46.87.

FOX Trading Up 0.7 %

Shares of FOXA stock traded up $0.33 on Friday, hitting $49.32. The stock had a trading volume of 2,604,958 shares, compared to its average volume of 2,361,779. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. Fox Co. has a twelve month low of $28.28 and a twelve month high of $50.63. The company has a fifty day moving average price of $46.60 and a two-hundred day moving average price of $41.68. The firm has a market cap of $22.53 billion, a P/E ratio of 12.06, a PEG ratio of 1.18 and a beta of 0.75.

FOX (NASDAQ:FOXA - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.33. The firm had revenue of $3.56 billion during the quarter, compared to analysts' expectations of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. The company's revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 earnings per share. As a group, analysts forecast that Fox Co. will post 3.94 earnings per share for the current fiscal year.

Insider Activity at FOX

In other news, COO John Nallen sold 182,481 shares of the business's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total value of $7,979,894.13. Following the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total value of $4,205,000.00. Following the transaction, the chairman now directly owns 1,258,862 shares of the company's stock, valued at $52,935,147.10. This represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is owned by company insiders.

FOX Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.